Socialables has been working on this all of 2010, and it shows. I've been in the beta program so it's been fun to watch it grow up. This is an entire level above any type of gift extensions. It has great integration with JomSocial too, AUP, JomSocial points, drag & drop gifts, much more. And it's actively developed. Every month there is a new release. Greg at Sociables has a long roadmap of future features, and I'm glad he's taken hold of this category to develop it to the full potential. It's an area that Joomla really lacked, but not any more.
It also integrates nicely with their FirstFriend extension, so new members can automatically receive a gift when they register. Try it out on their site to see what I mean.